U.K. Stewardship Code Statement (the “Code”)

 

FIFTHDELTA LTD (“FIFTHDELTA”) does not, in the normal course of business, take an activist shareholder approach. As such, while FIFTHDELTA is generally supportive of the principles underlying the Code, FIFTHDELTA has determined it would not currently be appropriate to commit to the Code.

 

EU Shareholder Rights Directive Statement (“SRD II”)

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FIFTHDELTA LTD (“FIFTHDELTA”) does not, in the normal course of business, take an activist shareholder approach. Where FIFTHDELTA does invest in shares directly FIFTHDELTA generally votes proxies in accordance with management’s recommendations. As such, while FIFTHDELTA supports the general principals of SRD II, FIFTHDELTA has determined it would not currently be appropriate to adopt an SRD II engagement policy or make the related disclosures.